NEOS Investment Management LLC Buys 6,120 Shares of Synchrony Financial (NYSE:SYF)

NEOS Investment Management LLC lifted its stake in shares of Synchrony Financial (NYSE:SYF) by 31.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,622 shares of the financial services provider’s stock after acquiring an additional 6,120 shares during the quarter. NEOS Investment Management LLC’s holdings in Synchrony Financial were worth $1,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Southpoint Capital Advisors LP raised its holdings in Synchrony Financial by 37.9% during the 3rd quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock worth $229,448,000 after purchasing an additional 1,265,000 shares during the last quarter. Zurich Insurance Group Ltd FI increased its position in shares of Synchrony Financial by 389.8% during the third quarter. Zurich Insurance Group Ltd FI now owns 1,138,672 shares of the financial services provider’s stock worth $56,797,000 after buying an additional 906,172 shares during the period. Soros Fund Management LLC bought a new position in Synchrony Financial during the third quarter worth $41,088,000. Nordea Investment Management AB boosted its position in Synchrony Financial by 18.5% during the fourth quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock valued at $200,756,000 after acquiring an additional 481,750 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Synchrony Financial by 71.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,130,266 shares of the financial services provider’s stock worth $56,378,000 after acquiring an additional 469,772 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SYF shares. Bank of America boosted their price objective on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised Synchrony Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $59.00 to $72.00 in a research note on Monday, December 9th. Royal Bank of Canada raised their price objective on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 29th. Truist Financial dropped their target price on shares of Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Finally, Keefe, Bruyette & Woods raised their price target on shares of Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.10.

Synchrony Financial Trading Down 3.3 %

Shares of Synchrony Financial stock opened at $52.39 on Friday. The company has a market capitalization of $20.37 billion, a P/E ratio of 6.13, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. The stock has a fifty day simple moving average of $61.17 and a 200 day simple moving average of $60.51. Synchrony Financial has a 12-month low of $39.67 and a 12-month high of $70.93. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, sell-side analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.91%. Synchrony Financial’s dividend payout ratio (DPR) is 11.71%.

About Synchrony Financial

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.